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Globus Medical
Globus Medical (GMED) investor relations material
Globus Medical Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary24 Feb, 2026
Executive summary
Achieved record Q4 and full year 2025 results, with revenue of $2.94 billion (up 16.7% year-over-year) and non-GAAP EPS of $3.98 (up 30.8%), driven by core spine franchise and successful integration of NuVasive and Nevro.
Q4 revenue reached $826.4 million, up 25.7% versus prior year quarter; U.S. sales up 27.5%, international up 19.0%.
Q4 GAAP net income was $140.6 million, up 430.4% year-over-year; full year GAAP net income was $537.9 million.
Non-GAAP diluted EPS for Q4 was $1.28 (up 52.1%), and $3.98 for the year (up 30.8%).
Integration of NuVasive and Nevro exceeded synergy targets and accelerated earnings accretion.
Financial highlights
Q4 base business net sales (excluding Nevro) were $726.7 million, up 10.6% year-over-year; Nevro contributed $99.7 million in Q4 sales.
Adjusted EBITDA for Q4 was $280.5 million (33.9% of net sales); for the year, $919.6 million (31.3% of net sales).
Q4 adjusted gross margin was 69.2%; full year adjusted gross margin was 69.6%.
Free cash flow for 2025 was $588.8 million, up nearly 150% from Q4 2023.
Cash, cash equivalents, and marketable securities at year-end: $629.1 million.
Outlook and guidance
2026 revenue guidance reaffirmed at $3.18–$3.22 billion, implying 8.2%–9.6% growth.
2026 non-GAAP EPS guidance raised to $4.40–$4.50, up 10.6%–13.1% over 2025.
Expect at least 100 basis point improvement in adjusted gross margin in 2026, targeting 69%–70%.
R&D expense expected at 5%–6% of net sales; SG&A at 38%–39% of net sales; CapEx at 5%–6% of net sales.
Non-GAAP tax rate expected at 24%–25% for 2026.
Nevro's contribution to 2025 sales growth
Factors for increased 2026 non-GAAP EPS guidance
Drivers of 2025 Adjusted EBITDA margin expansion
Nevro: Key drivers for sustained growth
Enabling Tech: Impact of flexible deals on revenue
U.S. Spine growth: What sustains above-market rates
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Next Globus Medical earnings date
Q1 20267 May, 2026
Globus Medical
Next Globus Medical earnings date
Q1 20267 May, 2026
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Frequently asked questions
Globus Medical, Inc. develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company provides portfolio of devices that include Trabecular Metal Tibial Plate System, Acetabular Cup and Universal Plating System, Trabecular Bone Screw Systems, Trabecular Metal Pedicle Screw, Nucleus Integrated Hip Resurfacing System, Nanologica Metal Lumbar Spacer, Nanologica Interbody Compartmental Spacer and Rectangular Nickel Alloy Taxoprene Plate/NucTec Staplate/Taxoprene Acetabular Cup. It serves hospitals and providers in the spine, orthopedic, neurological and physical medicine markets of the United States and internationally. Globus is headquartered in Audubon, Pennsylvania.
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